On 3 March, Aeolus issued a statement saying that it is making progress on its asset restructuring. The company suspended its shares on 4 Feb for a maximum of 30 days saying the controlling shareholder, China National Chemical Rubber Co., Ltd., is planning a reorganisation of assets related to the company. On 24 Feb the
Aeolus held its annual leadership-debriefing meeting on Feb 29 at its Production operations control center. Company executives and key staff made onsite reports to the senior executives based on aspects of Job performance, Leadership Honesty and self-discipline, The reports also evaluated the leadership team’s work in accordance with “moral, ability, diligence, achievements and honest “.
A long story from CRIA reports on progress at Triangle Tire ahead of its 40th birthday celebrations on 8 April. The report tracks recent developments at the company in glowing terms. Source: CRIA
DoubleStar has teamed up with Ping An Property Insurance in a cross-promotion to offer motorists insurance. Source: China Tire Dealer
Tire World reports that Hankook has informed workers at its plant in Huaian Economic Development Zone, Jiangsu, China that it expects to lay off at least 300 workers. The company also operates factories in Jiaxing, Zhejiang Province and Chongqing. Hankook is planning to re-organise the shift pattern at the Huai’an factory which will result in
In part because of the strong influence of tire test results on European tire sales and in part because ADAC has in the past admitted bias against Chinese-made tires, the reaction from the Chinese press to admissions of fraud by Nokian has predictably generated anger and resentment among China’s tire community. This is compounded by
Bridgestone (Wuxi) Tire Co. has completed the Phase-3 radial tire expansion project. The project has also received environmental approvals. The project brings total capacity to 7.78m passenger car tires/year. It represents an investment of US$98m Altogether the Wuxi unit employs 1850 working 330 days/year 24 hours/day. The unit produced its first tires in October 2015
Mao Xingjian (毛行健) has been named as chairman of Michelin Taiwan from 1 March. He replaces Frédéric Chouquet-Stringer (Chinese name: Qiu Derui (裘德瑞) who is leaving after 2 years. Source Tire China
At the Geneva Motor Show, China Tire dealer secured an interview with Pirelli’s General Manager Operations, Gregorio Borgo. Asked about the integration of Pirelli with ChemChina, Borgo said he is directly involved in that process and enjoys working with Ren Jianxin (Chairman of ChemChina). Borgo said there are great advantages for Pirelli and also for
In a long and informative interview with the president of Michelin China, Bruno de Feraudy, China Daily reports on Michelin’s strategy there. “At Michelin, we do not regard our business as tire makers. Instead, we facilitate better, safer, and more enjoyable mobility,” says De Feraudy. He said the automotive servicing market in China is growing at 19% CAGR, driven by the increase in car ownership. De Feraudy says Michelin China is eyeing fast growth through e-commerce and has sought to harness mobile phone apps and online platforms. The company is also working hard on driving sales to bricks-and-mortar stores
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